The Real Deal Miami

Edgewater site changes hands for $12.5M

California firm picks up about one acre in expanding Miami neighborhood
September 17, 2014 09:45AM

David and Irene Arditi

David and Irene Arditi

A two-property site totaling about one acre in Miami’s Edgewater neighborhood traded for $12.5 million.

BE 33 LLC sold the 3333 Biscayne Boulevard and 332 Northeast 34th Street properties in a transaction recorded on Tuesday, according to Miami-Dade County records. The company is managed by longtime Miami investor Irene Arditi. It paid $7.2 million for the site in April 2006.

A 3,300-square-foot Wendy’s restaurant is located at 3333 Biscayne Boulevard.

The buyer is 1031 Miami Sunrise Holding, which already owns two small properties behind the Wendy’s. State corporate records link the company to API Properties Corp. of Roseville, Calif.

No financing was recorded. — Eric Kalis